Invesco QQQ (NASDAQ:QQQ) Trading 0.5% Higher

Invesco QQQ (NASDAQ:QQQ)’s share price traded up 0.5% during mid-day trading on Wednesday . The company traded as high as $429.73 and last traded at $427.36. 17,314,226 shares changed hands during trading, a decline of 62% from the average session volume of 45,640,828 shares. The stock had previously closed at $425.07.

Invesco QQQ Trading Down 0.5 %

The stock’s fifty day moving average price is $436.87 and its 200-day moving average price is $409.67.

Invesco QQQ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th will be issued a $0.5735 dividend. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, March 18th.

Institutional Investors Weigh In On Invesco QQQ

Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in Invesco QQQ by 40,957.3% during the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock worth $11,602,698,000 after buying an additional 28,263,426 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Invesco QQQ by 1.2% during the third quarter. Envestnet Asset Management Inc. now owns 4,531,165 shares of the exchange traded fund’s stock worth $1,623,380,000 after purchasing an additional 52,019 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Invesco QQQ by 6.1% during the third quarter. Ameriprise Financial Inc. now owns 4,259,295 shares of the exchange traded fund’s stock worth $1,530,696,000 after purchasing an additional 243,305 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Invesco QQQ during the first quarter worth about $1,580,776,000. Finally, Commonwealth Equity Services LLC lifted its position in shares of Invesco QQQ by 7.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,474,824 shares of the exchange traded fund’s stock worth $1,013,490,000 after purchasing an additional 162,691 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

About Invesco QQQ

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust’s investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.